Siren Gold Limited Annual Report 2021

12 Reserves 2021 $ 2020 $ Foreign currency translation reserve (138,039) (35,886) Share-based payment reserve 878,306 878,306 740,267 842,420 a. Foreign currency translation reserve The foreign currency translation reserve is used to record exchange differences arising from the translation of the financial statements of foreign subsidiaries. b. Share-based payment reserve The share-based payment reserve records the value of options and performance rights issued by the Company to its employees or consultants. 13 Key Management Personnel Compensation (KMP) Refer to the Remuneration Report contained in the Directors’ Report for details of the remuneration paid or payable to each member of the Company’s key management personnel for the year ended 31 December 2021. The totals of remuneration paid to the KMP of the Company during the year are as follows: 2021 $ 2020 $ Short-term employment benefits 601,640 371,922 Post-employment benefits 23,888 13,220 Share-based payments – 277,200 625,528 662,342 Details of the Directors’ remuneration and interest in Securities of the Company are set out below: Director Remuneration (Annual Package) Shares Options Brian Rodan 1 $210,000 19,678,670 4,750,000 Paul Angus 2 $40,000 77,143 3,500,000 Keith Murray 3 $35,000 222,857 750,000 1. Commencing from 1 July 2020, comprising director’s fee of $40,000 and salary of $170,000 (excluding superannuation). Mr Rodan was appointed a director of the Company on 12 June 2019. Options are on the following terms: (a) 2,000,000 Options exercisable at $0.25 on or before 15 January 2023; and (b) 2,250,000 Options exercisable at $0.375 on or before 26 September 2024. Ms Bronwyn Bergin, Mr Rodan’s spouse, also holds 1,000,000 Shares and 500,000 Options exercisable at $0.375 on or before 26 September 2024. 2. Commencing 1 July 2020. In addition to his director’s fee of $40,000 per annum, Mr Angus provides technical consulting services to the Company pursuant to the Consultancy Agreement summarised in Note 21 at a rate of NZ$220 per hour to a maximum of NZ$1,760 per day. Options are on the following terms: (a) 2,000,000 Options exercisable at $0.25 on or before 15 January 2023; and (b) 1,500,000 Options exercisable at $0.375 on or before 26 September 2024. 3. Commencing from 1 July 2020, comprising director’s fee of $35,000 per annum. Mrs Susan Murray, Mr Murray’s spouse, holds 750,000 Options exercisable at $0.375 on or before 26 September 2024. 14 Share-based payments 2021 $ 2020 $ Total share-based payments for the year – 675,490 Share-based payment recognised as capital raising costs – (270,250) Share-based payment expense – 405,240 Notes to the Consolidated Financial Statements for the year ended 31 December 2021 Annual Report 2021 45